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CDL prices first green bond in S'pore

Friday, April 7, 2017 - 05:50

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Funds from CDL's first green bond will go towards repaying a S$100 million loan extended by CDL to CDL Properties, which owns Republic Plaza. Republic Plaza saves more than S$1.2 million annually by cutting energy and water consumption.

Singapore

CITY Developments (CDL) on Thursday emerged as the first Singapore company to sell green bonds.

The property developer's unit CDL Properties priced a two-year senior secured green bond, raising S$100 million at a fixed rate of 1.98 per cent per annum. The investors were

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